MARKET COMMENT: NZX-50 Adds 0.7% As Market Digests Results
February 19 2013 - 12:42AM
Dow Jones News
0511 GMT [Dow Jones] The NZX-50 adds 0.7% to 30 points to
4244.21 as investors digest corporate results. Contact Energy
(CEN.NZ) rises 3.4% to NZ$5.25 after it reported a jump in net
profit in the July to December period, helped by tighter cost
controls and some adjustments that helped to offset lackluster
demand. Sky City (SKC.NZ) ends flat at NZ$4.02 as the market
digested news that it remains willing to invest NZ$350 million in a
convention center in Auckland after a report from the Auditor
General's office saying there was nothing inappropriate in the
government's decision to negotiate with the casino operator.
Telecom (TEL.NZ) adds 1.1% to NZ$2.28 after news it will join
forces with Telstra Corp. (TLS.AU) and Vodafone Group PLC's
(VOD.LN) New Zealand unit to build Zealand's current internet data
requirements. (rebecca.howard@wsj.com)
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